Oil prices jumped and the dollar strengthened early on Monday following a weekend of violence in Gaza and Israel.
Brent crude, the international oil benchmark, rose 2.8 per cent to $87 a barrel, while WTI, the US equivalent, gained 3.2 per cent to $85.57 a barrel. Prices for Brent had slipped from around $97 a barrel at the end of September to $84 before Hamas militants attacked Israel on Saturday.
In currency markets, the dollar index climbed 0.4 per cent against a basket of six international peers. The world’s de facto reserve currency tends to rise during periods of geopolitical uncertainty.
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